Artisan Partners Asset Management Inc. $APAM Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management lowered its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 39.2% during the second quarter, Holdings Channel reports. The fund owned 10,376 shares of the asset manager’s stock after selling 6,692 shares during the quarter. Ritholtz Wealth Management’s holdings in Artisan Partners Asset Management were worth $460,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in APAM. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Artisan Partners Asset Management by 29.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 11,050 shares of the asset manager’s stock valued at $432,000 after acquiring an additional 2,503 shares during the last quarter. Continuum Advisory LLC acquired a new stake in shares of Artisan Partners Asset Management during the first quarter valued at $63,000. Illinois Municipal Retirement Fund boosted its stake in shares of Artisan Partners Asset Management by 2.4% during the first quarter. Illinois Municipal Retirement Fund now owns 38,466 shares of the asset manager’s stock valued at $1,504,000 after acquiring an additional 889 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Artisan Partners Asset Management by 12.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,100 shares of the asset manager’s stock valued at $2,234,000 after acquiring an additional 6,508 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Artisan Partners Asset Management by 20.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 14,457 shares of the asset manager’s stock valued at $565,000 after acquiring an additional 2,481 shares during the last quarter. Institutional investors and hedge funds own 86.45% of the company’s stock.

Artisan Partners Asset Management Stock Performance

Artisan Partners Asset Management stock opened at $43.11 on Monday. The stock’s 50-day moving average is $45.33 and its 200-day moving average is $43.05. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 11.47 and a beta of 1.72. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.97 and a quick ratio of 0.97. Artisan Partners Asset Management Inc. has a 12 month low of $32.75 and a 12 month high of $49.54.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings data on Tuesday, July 29th. The asset manager reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The company had revenue of $282.80 million for the quarter, compared to the consensus estimate of $269.00 million. Artisan Partners Asset Management had a return on equity of 71.72% and a net margin of 23.87%.The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the business posted $0.82 EPS. Equities analysts anticipate that Artisan Partners Asset Management Inc. will post 3.6 earnings per share for the current year.

Artisan Partners Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 6.8%. This is an increase from Artisan Partners Asset Management’s previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. Artisan Partners Asset Management’s payout ratio is 77.66%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on APAM. Evercore ISI decreased their price objective on Artisan Partners Asset Management from $45.00 to $43.00 and set an “in-line” rating on the stock in a research note on Thursday, October 9th. Royal Bank Of Canada increased their target price on Artisan Partners Asset Management from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Artisan Partners Asset Management in a research report on Tuesday, October 14th. TD Cowen reduced their target price on Artisan Partners Asset Management from $47.00 to $43.00 and set a “hold” rating on the stock in a research report on Monday, September 15th. Finally, Zacks Research downgraded Artisan Partners Asset Management from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Artisan Partners Asset Management presently has a consensus rating of “Hold” and a consensus price target of $44.00.

Artisan Partners Asset Management Profile

Artisan Partners Asset Management Inc is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts.